Invite colleagues
It is great to hear some positive news coming out of the Internet space. This time, it is from Chinese online game firm Shanda Interactive Entertainment Limited. Shanda is an interactive entertainment media company that operates online gaming in China and was founded in 1999.
They just announced to the market that its unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2008 shows an upswings in revenue and net income. Great News.. especially in light of whats happening in the global markets.
For the fourth quarter, consolidated net revenues increased 42.1% year-over-year and 8.4% quarter-over-quarter to CNY1.02 billion, compared to the company’s previous guidance of quarter-over-quarter growth between 5% and 8%. Revenues from MMORPGs increased 45.1% year-over-year and 13.3% quarter-over-quarter to CNY874.6 million. Shanda’s net income increased 17.1% year-over-year and 1.7% quarter-over-quarter to CNY342.7 million.
For Shanda’s full year figures, consolidated net revenues were CNY3.57 billion, representing an increase of 44.7% from 2007. Net income was CNY1.24 billion, compared with net income of CNY1.40 billion in 2007.
Well done to the Shanda team!
$1= CNY 6.8
Written on Tuesday, 01 September 2009 18:00 by Matt McDougall
